📊 Market Context
The USD/CAD exchange rate has shown recent volatility with a significant surge followed by a retracement phase. The market is reacting to expectations regarding decisions from the Federal Reserve and the Bank of Canada (BoC), as well as fluctuations in oil prices, a key factor for the Canadian dollar.
🔍 Technical Analysis
The chart analysis highlights the following key levels:
Main Resistance: 1.4521 → Located in the upper zone of the chart, this level could act as a barrier to further bullish movements.
Key Supports: 1.4333 - 1.4265 - 1.4239 → These levels have previously acted as bounce points and could provide a base for price recovery.
Market Structure: The price reacted with a strong green candle after testing the lower support area, followed by a correction phase.
Bullish Momentum: If the price holds above 1.4265, it could attempt another push towards 1.4521.
📌 Potential Bullish Scenario: If the price remains above 1.4265, we could see another push towards 1.45 and beyond.
📌 Bearish Scenario: A break below 1.4239 could trigger a sharper decline towards the 1.41 - 1.40 range.
🌍 Fundamental Analysis
Federal Reserve: The Fed is assessing the impact of its monetary policies, with markets speculating on a potential rate cut by mid-year.
Bank of Canada: The BoC maintains a cautious approach, monitoring inflation and the labor market.
Oil Prices: The CAD is correlated with oil prices, so an increase in crude oil could strengthen the Canadian dollar and push USD/CAD lower.
🎯 Conclusion
Main Bias: Bullish above 1.4265, targeting 1.45.
Trend Invalidation: Below 1.4239, a potential downward correction could occur.
The USD/CAD exchange rate has shown recent volatility with a significant surge followed by a retracement phase. The market is reacting to expectations regarding decisions from the Federal Reserve and the Bank of Canada (BoC), as well as fluctuations in oil prices, a key factor for the Canadian dollar.
🔍 Technical Analysis
The chart analysis highlights the following key levels:
Main Resistance: 1.4521 → Located in the upper zone of the chart, this level could act as a barrier to further bullish movements.
Key Supports: 1.4333 - 1.4265 - 1.4239 → These levels have previously acted as bounce points and could provide a base for price recovery.
Market Structure: The price reacted with a strong green candle after testing the lower support area, followed by a correction phase.
Bullish Momentum: If the price holds above 1.4265, it could attempt another push towards 1.4521.
📌 Potential Bullish Scenario: If the price remains above 1.4265, we could see another push towards 1.45 and beyond.
📌 Bearish Scenario: A break below 1.4239 could trigger a sharper decline towards the 1.41 - 1.40 range.
🌍 Fundamental Analysis
Federal Reserve: The Fed is assessing the impact of its monetary policies, with markets speculating on a potential rate cut by mid-year.
Bank of Canada: The BoC maintains a cautious approach, monitoring inflation and the labor market.
Oil Prices: The CAD is correlated with oil prices, so an increase in crude oil could strengthen the Canadian dollar and push USD/CAD lower.
🎯 Conclusion
Main Bias: Bullish above 1.4265, targeting 1.45.
Trend Invalidation: Below 1.4239, a potential downward correction could occur.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。